Monday, Dec 15, 1986
South San Francisco, Calif. -- December 15, 1986 --Genentech, Inc. announced today the appointment of R. Randolph Devening as vice president and chief financial officer. Devening will join Genentech in late January from Fleming Companies, Inc., a major wholesale food distributor based in Oklahoma City where he currently serves as executive vice president of finance and administration.
"With Randy Devening's broad financial experience and leadership capabilities, we are pleased to welcome him to our management team," said Robert A. Swanson, chief executive officer.
Devening graduated from Stanford University with a bachelor's degree in international relations and earned a master's degree in finance and marketing from Harvard Graduate School of Business Administration. He began his career at Price Waterhouse & Company.
Devening, 44, joined Fleming in 1979 as senior vice president and was elected to his present position in 1982. At Fleming, a $7.09 billion company which supplies over 3900 food stores in 33 states, he is presently responsible for all corporate financial functions, the negotiation of acquisitions and divestitures, and has operating responsibility for Fleming's $350 million foodservice group.
Genentech, Inc. is a leading biotechnology company, focusing on the development, manufacture and marketing of pharmaceuticals produced by recombinant DNA technology.
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